US-based packaged foods giant The Kellogg Company is in talks to pick up a significant stake in snacks maker Haldiram’s, The Economic Times reported.

Citing people aware of the development, the report said Kellogg’s is in exclusive negotiations with only two branches of the group which are based out of Delhi and Nagpur.

Kellogg has an exclusivity period on negotiations till the end of this month.

The valuations of the two target companies, excluding the restaurants business, could be around $3 billion (Rs 20,000 crore), according to the report.

Kellogg’s is eyeing a 51% stake in the two businesses, the report said. However, the promoters are looking to sell only 25% stake.

Shivkisan Agrawal founded Haldiram’s in Rajasthan in 1937. After a split, his descendants now run separate businesses in different regions of India.

Delhi-based Haldiram Snacks caters to the north, Nagpur-based Haldiram Foods International is present in the western and southern markets while Kolkata-based Haldiram Bhujiawala looks after the eastern region. Each company operates independently and they only have the Haldiram’s brand name in common.

Last November, VCCircle reported that Haldiram Bhujiawala had hired an investment banker to scout for potential investors to raise its first round of institutional funding.

In another report, The Economic Times said Switzerland-based fragrance makers Givaudan and Firmenich, Germany's Symrise, Ireland’s Kerry Group and Japan’sTakasago are among the companies looking to acquire a majority stake in VKL Seasoning Pvt. Ltd.

Citing two people aware of the development, the report said homegrown private equity firm True North is selling its stake in the seasonings and flavours maker and seeking a valuation of $140 million (Rs 1,000 crore) for the company. True North had invested around $40 million in the company in 2013.

Investment bank Avendus Capital is advising True North on the stake sale, according to the report.

VKL Seasoning’s consolidated net sales stood at Rs 209.5 crore for the year through March 2018, up from Rs 185.8 crore the year before, according to VCCEdge, the data research platform of VCCircle.

Meanwhile, Bloomberg reported that Apollo Hospitals Enterprise Ltd chairman Prathap C Reddy and his family are looking to sell their entire 41% stake in Apollo Munich Health Insurance Company Ltd for around Rs 1,200 crore ($170 million) within six months.

Citing people aware of the development, the report said four companies including two private equity funds have shown interest in buying the stake.

Apollo Hospitals’ promoter family is planning to use the proceeds to pare debt, according to the report.

Apollo Munich Health Insurance is a joint venture between Apollo Hospitals Group and Munich Re of Germany. Apollo holds a 51% stake in the company and Munich Re holds 48.7% stake.